Phoenix Coyotes Remain Orphaned After Greg Jamison Misses Deadline to Buy Team
Prospective owner Greg Jamison had a deadline of yesterday to buy the team and finalize an arena lease agreement with the City of Glendale, and it didn't happen.
According to Fox Sports Arizona, Jamison couldn't get the money together from investors to get the deal done.
Although Jamison continued to insist everything was A-OK and the deal was all good, anyone who's tracked the Coyotes' lack of ownership for the last four years knows not to get their hopes up.
That's something we mentioned in May of last year, when NHL Commissioner Gary Bettman came to Glendale, and held a press conference right before a playoff game to announce they'd found a buyer for the team.
As we wrote at the time, "The deal for Jamison and his group's purchase of the Coyotes was referred to by Bettman as 'an understanding,' an awkward but necessary description, considering the number of parties that have tried, and failed, to purchase the team."
And the trend continues, although Jamison says he's still going to try to buy the team.
"...[O]ur journey to purchase the Coyotes will continue," Jamison said in a statement yesterday, obtained by Fox Sports Arizona. "We realize this will require additional conversations with the city of Glendale and the NHL. We still believe we can reach an agreement that satisfies everyone. We hope negotiations with the city proceed as smoothly as possible, as everyone involved wants the Coyotes to remain in Arizona."
The number-one problem with that is what we heard Glendale Mayor Jerry Weiers tell Arizona Sports 620's Burns and Gambo.
"I had told him that I would honor the deal that the previous council had made," Weiers said. "That's true today, but not a second past it."
So, even though the league has insisted that it wants a Coyotes buyer who will keep the team in Arizona, who knows how long that will last. Again, the future of the Coyotes' ownership is uncertain.